Gold Smuggling Crackdown: NBR Seizes Assets Worth Billions

The National Revenue Board (NBR) of Bangladesh has unveiled a staggering tally of contraband seizures for the year 2025, highlighting a robust crackdown on the illegal movement of precious metals, foreign currency, and excisable goods. During a seminar organised in observance of International Customs Day on Monday, officials revealed that custom houses nationwide successfully intercepted 12,774 bhori of gold (approximately 149kg) throughout the previous year.

Financial Impact and Contraband Statistics

The seized gold carries an estimated market valuation of 163.73 crore BDT. Beyond precious metals, the NBR’s enforcement wings were equally active in curbing the flow of illicit foreign exchange and luxury goods that bypass the national exchequer. Mubinul Kabir, an NBR member, presented data showing that illegal foreign currency worth nearly 150 crore BDT was recovered, alongside vast quantities of alcohol and cigarettes.

Contraband Seizure Summary: 2025 Fiscal Year

The Dilemma of Protectionism versus Liberalisation

The seminar, chaired by NBR Chairman Md. Abdur Rahman Khan, served as a forum for a spirited debate regarding Bangladesh’s trade and tariff architecture. Zaidi Sattar, Chairman of the Policy Research Institute (PRI), argued that the current duty structures remain prohibitively complex. He warned that unless Bangladesh undergoes rapid trade policy liberalisation, it risks falling behind regional competitors within the next three to five years.

Chairman Abdur Rahman Khan countered by highlighting the evolving nature of revenue collection. “Historically, 90 per cent of our revenue was derived from customs duties; that figure has now been reduced to 27 per cent,” he noted. He emphasised the delicate balancing act between national interest and trade facilitation, while also lamenting the prevalence of misdeclaration.

Combating Fraudulent Declarations

The Chairman cited egregious examples of import fraud, such as consignments declared as raw cotton that were found to contain illicit cigarettes. Such deceptive practices, he argued, necessitate more stringent physical inspections, which in turn can slow down the speed of commerce. “Our mandate is not just revenue, but protecting society from narcotics and illicit trade,” he added.

Promoting Ease of Doing Business

To encourage compliance, the NBR awarded Authorised Economic Operator (AEO) certificates to nine reputable firms during the event. AEO-certified companies enjoy preferential treatment and expedited clearance at ports. However, Anwar Hossain, Secretary to the Ministry of Science and Technology, noted that the number of AEO firms remains disappointingly low. He suggested that for Bangladesh to truly become “business-friendly,” the number of certified operators should rise from a handful to at least 250, requiring a significant simplification of existing policies.

As Bangladesh prepares for its graduation from the Least Developed Country (LDC) status, Trade Secretary Mahbubur Rahman confirmed that negotiations are underway with major partners, including the EU, Japan, and South Korea. The primary demand from these global powers remains the streamlining of trade processes and the modernisation of customs protocols.